Muristek
New Delhi, April 14
The government on Thursday said it has approved 61 applications of companies, including Ginni Filaments, Kimberly Clark India Pvt Ltd, and Arvind Ltd, with an investment potential of over Rs 19,000 crore under the production linked incentive (PLI) scheme for textiles.
Textile Secretary UP Singh said a total of 67 proposals were received under the PLI scheme for the textiles sector. "In the approved 61 applications the proposed total investment expected from the applicants is Rs 19,077 crore and a projected turnover is Rs 1,84,917 crore with a proposed employment of 2,40,134 people," Singh said.
Will provide jobs to over 2 lakh people
The projected turnover is Rs. 1,84,917 crore with a proposed employment of 2,40,134 peopleIn Part-1 of the scheme, minimum investment required is Rs. 300 crore and the minimum turnover required to be achieved for incentive is Rs. 600 croreIn Part-2, the minimum investment should be of Rs. 100 crore and the minimum turnover required is Rs. 200 croreThe government had approved the PLI scheme for textiles products like MMF apparel, MMF fabrics and products of technical textiles for enhancing manufacturing capabilities and boosting exports with an approved financial outlay of Rs 10,683 crore over a five-year period.
Out of 67 applications, 15 were received under Part-1 and 52 under Part-2, the official said.
In Part-1, the minimum investment requirement is Rs 300 crore and the minimum turnover required to be achieved for incentive is Rs 600 crore, and in Part-2, the minimum investment should of Rs 100 crore and the minimum turnover is Rs 200 crore.
The companies whose proposals have been approved include Avgol India Pvt Ltd; Goa Glass Fibre Ltd; H P Cotton Textile Mills; Kimberly Clark India Pvt Ltd (subject to formation of a new company for investment and production under the scheme); Madura Industrial Textiles; MCPI Pvt Ltd; Pratibha Syntex; Shahi Exports; Trident Ltd; Donear Industries; Gokaldas Exports; and Arvind Ltd.
Singh said the scheme would help increase India's share in the global man-made fibre and technical textiles sector. "We are targeting to increase exports of technical textiles from $2 billion to about $8-10 billion," he added. —